Ken Gargett Posted January 30, 2012 Posted January 30, 2012 so the currency is stuffed, we've sold off the country and the dow is headed down 4000! thank god we have swan and gillard at the helm. http://www.bloomberg...a-slowdown.html http://www.bloomberg...obal-funds.html http://www.bloomberg...video/84758540/
Cohiba Stevie Posted January 30, 2012 Posted January 30, 2012 Pretty soon yous will be as bad as ireland! Ok that was a slight exaggeration... Lol
mazolaman Posted January 30, 2012 Posted January 30, 2012 Pretty soon yous will be as bad as ireland! Ok that was a slight exaggeration... Lol As we speak, Portugal is swimming like buggery for the shore, with the great white of economic collapse breathing down it's neck. They're borrowing money at a rate of 17%, with the rate of 7% considered unsustainable....still could be worse, like Greece.
SCgarman Posted January 31, 2012 Posted January 31, 2012 Our economy here in the US has been in the toilet since 2008! Any news reports that the US economy is out of a recession is merely bull. Millions of people still can't find jobs, the housing foreclosures are still occuring and our government cannot agree on anything and there is just partisan bickering like a bunch of immature children. Add on top of that news that gasoline might reach 5 dollars a gallon in the spring, rising food and household good prices and you can see that the United States is in POOR shape. Definitely not the good ol days!
ptrthgr8 Posted January 31, 2012 Posted January 31, 2012 Meh... we here in North Dakota will be fine. When the economy finally implodes and the big urban centers turn into the Walking Dead, those of us in more independent parts of the country will be fine. I'm sure that North Dakota, South Dakota, and Montana will form a new republic - the Bakken oil fields will keep us running for generations. Besides, I've been stockpiling all sorts of precious metals... massive amounts of lead, copper, and brass. And some gold and silver for good measure. Cheers, ~ Greg ~
zappaFREAK Posted January 31, 2012 Posted January 31, 2012 I hear a lot of talk on this subject and yet restaurants are full, car sales continue, and people are more productive than ever. I think this last thing is one of the factors behind the lack of jobs in the world. The current generation is also more focused on leisure activities and quality of life than the baby boomers. They are not really interested in owning property and are content renting or living with mom and dad. This shows in the housing numbers. A year ago the Dow Jones industrial average was about 12100, today it is around 12600. While this is not the growth that we have seen in the past it is not a negative. Stay positive people!!
ptrthgr8 Posted January 31, 2012 Posted January 31, 2012 I hear a lot of talk on this subject and yet restaurants are full, car sales continue... Those two points don't really show anything other than people are continuing to spend money they don't have. (Being extended on credit does not mean you're financially stable.) ...and people are more productive than ever. I think this last thing is one of the factors behind the lack of jobs in the world. I would definitely agree with that - businesses have to be more efficient to stay in business, which means they need to get more work out of each employee for essentially the same cost/time. That's how market corrections work. The current generation is also more focused on leisure activities and quality of life than the baby boomers. They are not really interested in owning property and are content renting or living with mom and dad. This shows in the housing numbers. As a Gen Xer, I have the luxury of being able to point the finger in each direction - the current crop of young folk are, in my experience, exactly as you decribe. They want to be coddled, doing hard work is foreign to them, and they have a massively inflated (and undeserved) sense of entitlement. Too many of the parents from my generation spent too much time shielding their kids from life... now they don't know how to actually work for a living. Brilliant. And to the Baby Boomers... wow... the economy is going down the tubes, yet god forbid that anyone make any cuts to the massively unfunded liabilities that are Medicaid and Medicare. It's great that they feel they're entitled to my (and future generations') money. And it's a bummer that the gov't made promises it knew it wouldn't be able to keep. But the facts are the facts - we can't keep paying out. Cuts will have to be made. Stay positive people!! Oh, I'm positive alright. I'm absolutely positive that the economy is going to collapse because nobody is willing to do what actually needs to be done. One way or another, the changes will be made... but I think it's not going to be a decision of our own choosing. The economy will come back, certainly. The country will (hopefully) look a lot different. Then we (or our children, or our children's children) will be able to go on living the dream. But to think that the worst is not yet upon us is... well... not realistic. Better to accept the truth now and begin preparing so that when the time comes you and your family are in a better position. Cheers, ~ Greg ~
lavifred Posted January 31, 2012 Posted January 31, 2012 Credit default swaps in the markets are suggesting a +/- 70% chance that Portugal will default within five years... And Greece is at +/- 90% within 3 years...
Warren Posted January 31, 2012 Posted January 31, 2012 5 dollars per gallon? I long for those days. We're nudging 6 dollars per gallon now.
NMJoe Posted February 1, 2012 Posted February 1, 2012 Meh... we here in North Dakota will be fine. When the economy finally implodes and the big urban centers turn into the Walking Dead, those of us in more independent parts of the country will be fine. I'm sure that North Dakota, South Dakota, and Montana will form a new republic - the Bakken oil fields will keep us running for generations. Besides, I've been stockpiling all sorts of precious metals... massive amounts of lead, copper, and brass. And some gold and silver for good measure. Cheers, ~ Greg ~ Lead, copper and brass may be your best investment.
ptrthgr8 Posted February 1, 2012 Posted February 1, 2012 Lead, copper and brass may be your best investment. And if not the best, at least the most fun.
Duane Posted February 1, 2012 Posted February 1, 2012 5 dollars per gallon? I long for those days. We're nudging 6 dollars per gallon now. I got scared today when i drove past the pump and it had an 17c increase from yesterday, yet alone our alcohol tax has gone up again today beer and spirits looks like wine got away this time, next will be tobacco.
Tashaz Posted February 1, 2012 Posted February 1, 2012 I got scared today when i drove past the pump and it had an 17c increase from yesterday, yet alone our alcohol tax has gone up again today beer and spirits looks like wine got away this time, next will be tobacco. Tobacco tax went up today as well. Thanks to the indexation it was minimal though.
svivo Posted February 1, 2012 Posted February 1, 2012 As a Gen Xer, I have the luxury of being able to point the finger in each direction - the current crop of young folk are, in my experience, exactly as you decribe. They want to be coddled, doing hard work is foreign to them, and they have a massively inflated (and undeserved) sense of entitlement. Too many of the parents from my generation spent too much time shielding their kids from life... now they don't know how to actually work for a living. Brilliant. And to the Baby Boomers... wow... the economy is going down the tubes, yet god forbid that anyone make any cuts to the massively unfunded liabilities that are Medicaid and Medicare. It's great that they feel they're entitled to my (and future generations') money. And it's a bummer that the gov't made promises it knew it wouldn't be able to keep. But the facts are the facts - we can't keep paying out. Cuts will have to be made. I'm a gen Y and I work my ass off. To say that we have a sense of entitlement is probably right, we may as well enjoy life now because with the mess that the older generations have left for us to clean up we will all be working until we drop dead.
thechenman Posted February 1, 2012 Posted February 1, 2012 I'm a gen Y and I work my ass off. To say that we have a sense of entitlement is probably right, we may as well enjoy life now because with the mess that the older generations have left for us to clean up we will all be working until we drop dead. In all honesty...that's probably the way things should be. It was good enough for our great grandparents and each generation before them...why should it be any different for us? Too much waste IMHO...but who am I to say. I'm guilty of it too.
sblevit Posted February 1, 2012 Posted February 1, 2012 Just wait until US austerity kicks in after the 2012 elections (when Obama will loose and the Senate may go Republican). That's when the real fun will begin!
OZCUBAN Posted February 2, 2012 Posted February 2, 2012 Correct me if I am wrong but I think Australia is one of the most TAXED nations in the world ,especially on the SIN tax items ie Alcohol Tobbaco
Tashaz Posted February 2, 2012 Posted February 2, 2012 I would agree OzC. I cannot base it on facts (to lazy to do the research) but I can say my hip pocket feels it. As far as economic gloom goes all I can say is I am a small business owner in the mech trade & business has gone ballistic as of late. I'm not yet sure if it is because we trade honestly & do not rip customers off or just the season. It is always busy this time of year but this year is over the top for some reason. I'll take it!
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